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Corrective Actions 401k

Foley & Lardner LLP

Employee Benefits in Mergers & Acquisitions: Key Considerations When Acquiring a Defined Benefit Pension Plan

Foley & Lardner LLP on

Although pension plans are increasingly rare, if your business is considering acquiring a company that sponsors a pension plan, then several new diligence and deal considerations come into play for the transaction. This can...more

Foley & Lardner LLP

401(k) Plan Top 10 Year End Laundry List

Foley & Lardner LLP on

No one really appreciates laundry, but having a calendar year-end top 10 list may be exactly what plan sponsors and administration committees need in order to prevent operational or document compliance issues being raised by...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Correct the late deferral issue correctly

Correcting your late deferrals by depositing them and making a contribution to make up for lost earnings in your 401(k) plan isn’t enough....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Compensation is such a huge issue in 401(k) plans

When I look at plan errors, one major area of a plan keeps coming up: compensation issues. Compensation issues deal with the definition of Compensation in the plan as well as when salary deferrals are dealt with in the plan....more

Dickinson Wright

If Timely Notice is Given, the Cost to Correct a 401(k) Exclusion Error May Be Reduced

Dickinson Wright on

Occasionally, an employer may determine that it did not withhold deferral contributions for a new employee in accordance with the terms of its 401(k) plan. If the plan has an automatic enrollment feature, and the error is...more

Orrick, Herrington & Sutcliffe LLP

Missed Deferrals - New 401(k) Correction Procedures

The IRS has recently issued three new, less expensive safe harbor procedures for correcting missed elective deferrals. These new procedures require either no employer corrective contribution to make up the missed elective...more

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